Market Analysis

Yesterday during the day stocks rallied with the Dow up almost 200 points on a better than expected September Institute of Supply Management Service Sector Index which came in at 53.2 vs an expected 51.8 reading and compared to a 51.5 reading for August.  Bonds held flat in the midst of the stock rally with the yield on the 10 Yr Treasury ticking down just slightly and with mortgage-backed securities issued by Fannie Mae and Freddie Mac worsening only slightly.  This morning, the economic news was worse than expected with ADP reporting 39,000 public sector job losses for September vs expectations for an 18,000 increase.  The did revise August up by 20,000 from a 10,000 job loss to a 10,000 job gain.  Bonds responded positively to this negative economic news and stocks are remaining relatively flat with the Dow up just slightly and with the NASDAQ down just slightly. 

Posted by Matthew Breston on October 6th, 2010 9:30 AMPost a Comment (0)

Recent Posts:

Archive:

My Favorite Blogs:

Sites That Link to This Blog:

Broker NMLS #249828  Company NMLS #349828      Equal Housing Lender

 


Iron Harbor Mortgage, L.L.C. 815 Brazos, Suite 705 Austin, TX 78701
Phone: Fax:

Contact Us | Common Questions | Today's Rates | BBB Report Lookup | Loan for Purchase | Video Testimonial | Credit Report Errors | Privacy Policy | Loan Application | Loan Process | Market Analysis

Copyright © 2012 Iron Harbor Mortgage, L.L.C.
Portions Copyright © 2012 a la mode, inc.
Another XSite by a la mode, inc. | Admin LoginTerms of UseSite Map